Scholar Rock (NASDAQ:SRRK) Now Covered by Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Scholar Rock (NASDAQ:SRRK - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating on the stock.

SRRK has been the topic of several other reports. Wedbush reaffirmed an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $42.67.

Scholar Rock Stock Performance

NASDAQ:SRRK traded down $2.14 during mid-day trading on Thursday, reaching $40.72. The company's stock had a trading volume of 1,896,457 shares, compared to its average volume of 1,321,777. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The firm's fifty day moving average price is $33.76 and its two-hundred day moving average price is $35.00. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.87 billion, a P/E ratio of -16.09 and a beta of 0.33.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter last year, the company posted ($0.59) earnings per share. On average, equities analysts forecast that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider directly owned 616,205 shares in the company, valued at approximately $18,313,612.60. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of Scholar Rock stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the transaction, the insider owned 115,495 shares of the company's stock, valued at approximately $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,654 shares of company stock valued at $3,265,961 in the last 90 days. 13.30% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. grew its holdings in Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after buying an additional 430 shares in the last quarter. CWM LLC grew its holdings in Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after buying an additional 602 shares in the last quarter. Corebridge Financial Inc. lifted its stake in shares of Scholar Rock by 2.2% in the 1st quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock valued at $1,266,000 after purchasing an additional 850 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Scholar Rock by 16.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock valued at $350,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Scholar Rock by 10.2% in the 1st quarter. Arizona State Retirement System now owns 18,767 shares of the company's stock valued at $603,000 after purchasing an additional 1,734 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.